Last year, a friend of mine purchased approximately $1,000 worth of BTC and ETH cloud-mining contracts at Genesis Mining. Yet six months later, in need of some quick cash - he offered to sell me his account.
At the time, Genesis was sold out of new contracts, so the situation worked out great for each of us. Since I already had my own personal account, buying his gave me access to two separate username/passwords at Genesis Mining.
This caused me to notice something I may have missed if I'd only had a single account....
Genesis pays out daily for certain contracts (i.e. Zcash) and for others (BTC, ETH) they hold daily payments until a minimum withdraw threshold is met. On the day your account crosses the minimum, a payment is sent to the address you have on file.
When the ETH withdraw minimum was 0.05 ETH a month ago, I logged into my friends old account expecting to see that a payment had been sent to my Ledger Nano wallet. After realizing that it hadn't, I added up the daily payouts and learned I was still a single days payment away from 0.05. ETH.
Then I noticed the account was missing the last 4 days of ETH payments. There were no other missing payments in the month prior, it only happened at the moment when the next daily payout took my over the minimum threshold. I contacted customer service and two days later, before they even wrote back, all six transactions were added to the account and the payment was sent that day.
I'd never had an issue with Genesis before this and wasn't looking to spend the ETH, so the payment being sent five days later didn't matter much at the time....
The minimum fee was raised to 0.075 ETH recently, which isn't an issue personally, but the same delayed payment situation has occurred on my original account now.
On Jan 23rd, after adding my daily payouts, I had 0.0734 ETH. This smaller account earns somewhere around 0.0013 and 0.0017 ETH per day, meaning I'd cross the minimum payment threshold in two days - on Jan 25th.
There wasn't a single missed payment for 50 days prior, yet, as you can see from the photo above, Genesis Mining has missed paying out on Jan 24th, Jan 26th, Jan 27th, Jan 28, and now, Jan 29th.
A single payout on any of those days and a payment would have been sent to my wallet, yet for the second account I've tracked, something mysterious has occurred.
Each time missing payments happened on the account that was expecting a payment, but showed up as normal on the other. So I'm doing a little research. Here's how you can help....
- Comment and let me know if your ETH payments are missing for this week as of 9 pm EST 1/29/18.
- Take a screenshot and post a pic as I have if possible....either way, showing a payouts or not...
- Keep a tally on when a payment should be released. Monitor you account and see if the same situation happens to you.
I like Genesis. I don't think it's a horrible scam situation or anything, but I do find it a bit suspicious and plan to look deeper into it.
Let me know what you've noticed
Peace,
@OracleFrequency